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FOX Business
Dec 9, 2012 2:30am EST
in. forget your hard earned paycheck. are unemployment checks going to stimulus the economy. house minority leader nancy peel pole said yes. >> it is more injectedd by unemployment insurance. >> okay, to get this number down, get the number of people on these lines that you are looking at up. how is that going to work. i am cheryl casone and welcome to cashin i . joining us is trace yejohn and christian dorsey . welcome to all of you. tracey, benefits the best form of stimulus, really, you agree with that? >> the only thing that jobss stimulus benefit i apathyt is it easier to stay at home and collect a check than work at mcdonalds. we are so lazy these days, take 99 weeks was a freebey. we saw it with the hoess union guys. we rather take unemployment than take consessions. >> wayne, the benefits areo crucial we should extend them and not keephem in pce but giveore of aand out to the unemployment for the reasons of saving the economy. >> i have a better idea. have everybody stand on the coer with a bag of cash. its idiotic and nancy pelosi, she is a -- econist. that is it a guy who
FOX Business
Dec 9, 2012 9:30am EST
of saving the economy. >> i have a better idea. have everybody stand on the corner with a bag of cash. it is idiotic and nancy pelosi, she is a -- econist. that is it a guy who drives the car by looking in the rear view mirror and goes around and seriously she's more interested in "saving the economy" than doing something correct or doing it right. by the way, recentl and i saw this on ather network, forgive me, they were talking about unemployment and t they were saying that the idea of unemployment insurance stretching out to 99 weeks where they wod start a guy in the midwest in manufacturing and start somebody on a job . they would train him agree to train him if he was not skilled . that tells you about the federal training programs . get him a job. no, we rather collect the unemployment. >> one of my fave identity economist is it christian dorsey . this is a perfect question for you i got to say. every dollar that they take in they will spend and there is it an economic benefit and i believe you agree with that as well. >> i is not that controversial. who sonot drawing in econom
FOX Business
Dec 7, 2012 4:00pm EST
materials and technology lad a bit. the u.s. economy added 146,000 jobs in november as the unemployment rate dropped to four year low of 7.7%. today's report may not be as strong as it seemed, reporting employers added 49,000 fewer jobs in september and october than initially estimated. a preliminary reading showing consumer confidence plunging to its lowest level in four months. early december americans prepare for a potentially higher taxes at the beginning of next year. the index dropping 74.5 this month, far below november's reading of 82.7 and economists forecasts of 82.4. >> in the pits of the cme, michael tells us why dividend paying stocks are taught play regardless of next year's tax rate and charlie will share why he is bullish despite short-term volatility but let's start with phil at the cme. the dow did well today. better than expected, arguably better than expected, jobs report boosting the markets but we got consumer confidence and the fiscal cliffhanging over everything. what did you make of the markets today? >> i was disappointed we failed on that rally and shot up 1421 and
FOX Business
Dec 7, 2012 3:00pm EST
implementations for the economy. cheryl: i can hear the hesitancy in your voice. a lot of our guests are saying the same thing. they are afraid of what washington will do or maybe not do. your outlook is a bit more bullish than some of your colleagues. what are you saying in the second half of 2013 that others are not? >> on a very short-term basis, we have noticed there are a couple of things. the fiscal cliff. we cannot get out of the way of that. if you look at to the second half of 2013 that we can get some resolution, we may not like the total resolution, but if we can, you move past a period of uncertainty. three things have started in 2012 that could accelerate in 2013. housing is key. cheryl: it has done incredibly well this year. >> the second aspect is what is going on with the energy field, in terms of technology and energy less dependence for the u.s. the third factor is what is going on in manufacturing. you can talk about the creation of jobs in the u.s. economy. if you can get the u.s. economy past this model through environment, you will see a slight acceleration in the second h
FOX Business
Dec 3, 2012 3:00pm EST
hurting our economy and creating jobs. today, the white house has demanded an offer from republicans. they now have one. back to you. llri: rich edson, and he thinks. the market is taking a breather today. dupont and 3m are the biggest draggers on the dow. early stocks rising out of the gate out of some good news out of china over the night. hitting a seven month high, but then the u.s. isf number hit at 10:00 a.m. eastern and a wave of selling. manufacturing activity contracted in november. they say the factory index came in at 49.5 in november. down from almost 52 and october. keep in mind, any number below 50 means contraction. above 50 equals expansion. investors are still worried about tax treatment and dead deals. exelon, the worst of the bunch our first guest has seen it all. the u.s. economy they fall into a recession next year even if congress strikes a budget deal by year end. joining us from stanford, california, martin feldstein. thank you for being with us. the republicans now responding. negotiations well underway to avoid a fiscal cliff. to your point, you recently sai
FOX Business
Dec 3, 2012 4:00pm EST
that there may be some more demand coming for the metal from china and the u.s. as well. as both of our economies begin to churn a little more than expected. the top two copper-consuming countries. >> and following auto sales today, a number of derivatives plays hitting 52-week highs. cooper tire and rubber, genuine parts and carmax taking a hit in today's session. david: all right. and we told you about that breaking news on jpmorgan whale trader, a $5 billion loss for the company. the senate has been investigating. peter barnes with the latest on that investigation. peter? >> reporter: well, that's right, david. the senate, a senate investigation subcommittee has questioned more than 80 people in its probe of $5.8 billion in trading losses in may by jpmorgan chase, the london whale trading losses, according to two people familiar with the investigation. now, according to the sources the people -- according to one of the sources, the people include current and former jpmorgan employees as you would expect. now, reports of this probe first -@surfaced in the fall. now we can report that investigat
FOX Business
Dec 2, 2012 2:00am EST
all economy we must put enments on the table. over the last four years entitlement spending is growing faster than the over all economy. this is why president obama has this country in record debt. that hurt the economy. take-home pay decreased under president obama. we must get entitlements under control. >> rick at the unemployment and housing vouchers. it is 800 billion extra spending. doesn't that have to be cut. >> there is no chance that there will be a dole without entitlement cuts. what senator durbin is talking about is the importance of focusing. if we want a deal you will not doing by taking a wide sprect rum approach. president clinton was clear when he spoke to the republicans. he pointed out that t biggest driver of the united states debt is medicare. he understands that we have to face up to the medicare problem. we need a solution. >> the conference that rick was referring tompt he said folks, i won and i get to make the decision and he grew the budget by 800 billion every year. one-time stimulus has happened every year of the presidency and the president through tim ge
FOX Business
Dec 2, 2012 8:00am EST
, what does it mean to the economy? especially if we don't know in it will be a deal in a month or a deal to do deal in another year? >> there's absolutely no good at this point in pushing along the current system and waiting to fix it later. yeah, no one wants higher taxes, but we're not in a dp reception rightnow. we absolutely are going to die if things start to change and in fact, the underlying real problem, the growing deficit on the path to greece, the goalets worse once we kick the can away. that will be the overriding probleming not the slowing economy not people spending money, but sure, that might not happen in the first two months, but it will eventually happen if we keep kicking down the can. we want to prove to the world that we have a solution and if it takes a few months to get there and higher taxes for a while, big deal, we will get there. that's got to be the plan not just the same nonsense. >> yeah, but larry, that's part of your point, but jonas says we're not in a bad recession, we're certainly not in a good recovery. and if we just keep falling little bit by little
FOX Business
Dec 7, 2012 7:00pm EST
a stimulus aspect of the economy. >> that -- lou: the senate's top democrat believes we should return to europe for inspiration and guidance for fiscal policy, taking greece, perhaps, as a standard for dealing with economic and budget crises. the speaker did a charge the president is slow walking the nation to the brink of a fiscal cliff. that is one of the speakers firmest in the strongest statements yet. >> this is in a progress report because there is no progress to report. the white house has wasted another week. there are a lot of things that are possible to put the revenue on the table, but none of it is going to be possible. the president insists on his position. insists on my way or the highway. lou: inconveniently the congressional budget office today reported that the federal deficit is already bulging. the cbo reports for the first two months of fiscal 2013 that number $2,902,000,000,000, $57 billion more than the same two month time span last year. and the labor department today reported the unemployment rate fell to the 77%. good news, the lowest jobless rate in four year
FOX Business
Dec 7, 2012 1:00pm EST
just during recessions. i do think that the economy can do better. i think we know that companies, i do still believe, our sideline, they are hesitant based on the uncertainty associated with washington and the economy. they have actually probably fallen a bit behind on the hiring they need to do. i do think we can do better than this. melissa: if we cut that this rate, it would take us nine years. is there anything we could be doing better? >> i know everybody says this, but i do think it is true. it is more certainty. if we get, not just a fiscal term agreement, a longer-term deal. if we were to be able to reach a longer-term deal, the grand bargain and for once and for all, put this uncertainty about taxes and spending to rest. i think that is what it would take. i think that is what would get hiring and investment back on. melissa: we saw a dip in consumer sentiment again. do you believe people are worried about the fiscal cliff? >> they are looking out what is right in front of them. we talked about this before. this is the first crack we have seen in sentiment. in the response and
FOX Business
Dec 7, 2012 11:00am EST
the white house. reports indicate that the president has adopted a strategy to slow walk our economy right to the edge of the fiscal cliff. instead of reforming the tax code, the president wants to raise tax rates. even if the president that the tax rate hike that he wanted, understand that we will continue to see trillion dollar deficits for as far as the eye can see. washington has a spending3 problem, not a revenue problem. if the president does not agree with our proposal, i believe he has an obligation to families and small businesses to offer a plan of his own. we are ready and eager to talk to the president about such plan. >> you did speak with the president earlier this week, can you characterize that call. also, it has to be increases in rates for the wealthy or no deal. >> the phone call was pleasant, but more of the same. it is time for the president to be serious and come back with a counter offer. [inaudible question] >> the risk the president wants us to take, increasing tax rates will hit many small businesses that produce 60-70% of the new jobs in our country. that is the
FOX Business
Dec 5, 2012 10:00pm EST
, people. i hope you're not either. coming up tomorrow, what was once a dark spot in the economy is becoming the shining star in the recovery. why the quick tu around? that's all for on the. thanks for joining us. have a great night. see you right back here tomorrow. ♪ lew: good evening, everybody. u.s. foreign policy in the middle east in question at this hour. violence spiring outf contro in syria after 20 months of civil unrest and the deas of at least 40,000 murdered civilians at the hands of their own government. united states and nato agreeing to deploy patriot weapons and to thwart an aso-called by assad. the missile systems to be positioned near the syria. his staff denies that and estimates if they were deploy troops, it requires 75,000 of the troops in a full ground invasionn order seize the chemical weapon stockpile. fox news confirming they were not ordered to draft the consideration of such a mission. secretary of state clinton is nonetheless talking very tough calling for assad to step down as the obama administration has done for the past 15 months, b refusing,
FOX Business
Dec 8, 2012 12:00am EST
open the door for eorts and create a boom for the economy. the only thing standing the way though is present obama. we'll drill down with a natural gas company's ceo. >>> plus fighting crazy with crazy. could two plat nurm coins worth a trillion dollars each solve our debt crisis? is it as nuts as it sounds? bear with me here, people. our "money" power panel will break it down. >>> are plastic bags the way to extinction. they're completely banned in two cities. chicago wants to nix them. guess who is behind it? my favorite chicago alderman. i say stop the madness. but alderman joe moreno is here to disagree with me. even when they say it is a not it is always about money melissa: first let's take a look at today's market headlines. mediocrity apparently the reason to buy on wall street today. the november jobs report came in above expectations but the 146,000 jobs added is below average monthly growth for the past two years. that and 350,000 americans left the workforce. it all somehow added up to an 81-point gain on the dow. as usual the markets are making perfect sense. also mo
FOX Business
Dec 2, 2012 2:30am EST
government money to pay for it. >> john than what does that do to the economy over all? >> it hurts the economy. any time the government involves in ethanoyl or kid's education or health care or housing it lead toz destruction. the pearl student loan went up five percent. 85 percent of that is held by the government. 10 percentelingquency and goes to 15 or 20 and the taxpayer is is left on the bottom floor. >> julian, you think the government should get out of student loan business. that is rough the payment of debt. >> i think everyone agreed that a college education is critical to the country's competeness. if you have a college education you are less unemployment and will earn more income. we need to reform the system. we took banks out as middle man and republicans opposed that . we need to cut the waste out. let me finish the point fimay. the law signed will give students flexibility to pay back under the condition they pay back the loans and that is important reform as well tracey is right. the principle issue is whether kids coming out of the college have an opportunity to ge
FOX Business
Dec 2, 2012 8:30am EST
for it and it's destimulative when you need to stimulate the economy. >> and you're talking about, when you take money out of small businesses? >> and adam, he deserves to answer your question. adam? >> he's talking about keeping taxes where they are for the straight majority othe country, charlie. he campaigned on this. he was elected on it, it doesn't matter. >> 50% othe vote on it. >> it doesn't matter, you know that as well as i do. it's only political. >> no, no, no, i'm not-- no, i'm not saying that, i'm saying that there's no rational reason. >> let me finish, charlie. >> and what is the rationality ttreat a small business person who makes $250,000 a year and employs ten people just like steve jobs, warren buffett and-- >> and we quibble? >> let me finish. we can quibble about what the right amount is, whether it's $250,000 or whether it's 500,000, what the president is trying to do. >> and for a while, charles, help me with this part of it. whatever your views on taxes, and i think it's happening and ben stein' earlier point, it's there. andeeply disturbing, where is it, not only there's
FOX Business
Dec 9, 2012 1:00am EST
. jonas, any attempt to c the debt is going to hurt the economy. >> when you can't fit a driver in a smart car, that's part the of the problem. there are studies that say over million people and other deficits, close the huge deficits might not have a huge effect on the economy, however, if taxes across the board and let's not forget the spending cuts that are ought mattic in the defense industry, defense industry alone is looking at hundreds of thousands of job cuts next year with nos mandatory cuts go into effect. i'm not saying they are. sot's both cutting and taxing, we're too focused on the tax. bottom line, the government takes it out of the system cutting and raising taxes and the small or deficit. that means tt people are going to be out of work, almost by definition in the short run. but in the long run it's a healthier economy that doesn't go down the path of greece. if the long run greece would have low unemployment, but they do not, but yes, we're going to go a percent, if it happen the worse case scenario, but in five years we won't be notble to borrow money. >> brenda: julian
FOX Business
Dec 4, 2012 7:00pm EST
about the importance of preventing a tax increase on middle class families, strengthening our economy, and adopting a balanced approach to deficit reduction. and so it goes. my first guest says it does not matter who you tax or what form revenue takes him, taking more money at the private sector will hurt economic growth. joining us now, republican senator from the great state of kentucky from the senator rand paul. good to have you with us, senator. >> good evening. the president says we don't have enough time for tax reform or in thailand reeorm. you know my responses? we have been talking about this for two years. why haven't we done anything? i met with the president a year-and-a-half ago and i looke@ across the table in. i said in a we need to do something about social security. we need to do something to save medicare. they have done zero. how come there is no committee appear. d'agata washington. who is in charge of social security reform? nobody. everybody waits for a deadline and throws up their hands and says we don't have enough time. it is broken up here, but because they'
FOX Business
Dec 6, 2012 9:00pm EST
and workers. john: singapore has a booming economy. no minimum-wage comment no laws against discrimination. if you fire, four weeks termination notice and unemployment is at 2%. >> you can start of business, flexible, hire and fire and it makes it attractive. john: thank you anne jolis and thank god we don't have those dumb laws. we have plenty. weird getting more and people want more like a guaranteed vacation. >> absolutely. we work too hard. france and italy six weeks is normal. john: america does not have mandatory vacation but we have 170,000 pages of federal rules and they keep passing more. it shows how america has recovered since the great depression. to sit out this graph from dan mitchell because of these rules add this up and the government spending, tax increase coming can understand when our entrepreneurs think i do not want to hire people then i want to keep my company small then i am stuck with a mandate. i am worried we become like you're up at the same time that model is falling apart. john: we did have these laws but not as many. >> as much as seven like the regulated lai
FOX Business
Dec 7, 2012 12:00am EST
. john: singapore has a booming economy. no minimum-wage comment no laws against discrimination. if you fire, four weeks termination notice and unemployment is at 2%. >> you can srt of business, flexible, hire and fire and it makes it attractive. john: thank you anne jolis and thank god we don't have those dumb laws. we have plenty. weird getting more and people want more like a guaranteed vacation. >> absolutely. we work too hard. france and italy six weeks is normal. john: america does not have mandatory vacation but we have 170,000 pages of federal rules and they keep passing more. it shows how america has recovered since the great depression. sit out this graph from dan mitchell because of these rules add this up a the government spending, tax increase coming can understand when our entrepreneurs think i do not want to hire people then i want to keep my company small then i am stuck with a mandate. i am worried we become like you're up at the same time that model is falling apart. john: we did have these laws but not as many. >> as much as seven like the regulated laissez-faire econ
FOX Business
Dec 4, 2012 11:00am EST
back then, barack obama believed that lowering rates was good for the economy. dagen and connell, it is yours. connell: the war on wealth is where we begin today. dagen: get the government out of the markets. connell: the devil wears -- becoming our next ambassador to britain. dagen: holiday travelers paying up. the average ticket price topping $450. connell: everyone needs a few days off. it is the top of the hour. we will go to nicole petallides. good morning. nicole: good morning. let's take a look at what is going on here. let's take a look at jardin restaurants. it turns out they are not meeting the analyst expectations. let's take a look at the stock. it is near its lows of he day. their earnings will miss the analyst estimates. same-store sales dropping 3.2%. as a result, sales have diminished. how about the major market averages? the dow is higher, but the s&p and the nasdaq are lower. dagen: republicans finally pulling off their own plan to deal with the fiscal cliff. connell: the white house predictably saying, no deal. the parameters are there now. we can start to ima
FOX Business
Dec 6, 2012 5:00pm EST
: without affordable energy we have no economy and that is for sure bad for my children. we have no jobs. we have no industry. >> why is the fastest growing new source of energy in this country wind energy or distributed solar. melissa: because it is completely supported by the government and by my tax dollars. >> not even close to as much as --. melissa: absolutely no money to spend on these things you know what -- >> actually big oil, gas and coal are actually much more heavily subsidized. melissa: you and disagree what is subsidy is. that is fine for debate for another time. we agree to disagree. do you know crayons, made from petroleum. >> right. maybe that is essential use in your view. we don't need to drive our cars with petroleum. we can use --. melissa: we do, because i don't want to pay $59 a gallon for biofuel. >> we need to use government and our taxpayer dollars wisely. melissa: i do too. >> make sure we use technology that actually doesn't exacerbate climate change and actually --. melissa: electricity comes from coal and nuclear? you like coal and nuclear. >> also comes from s
FOX Business
Dec 6, 2012 6:00pm EST
show again. >> great to be with you, thank you. gerri: everything's hanging in the banse, economy, middle class income, taxes, you name it, and you and your fellow house members are not going to work. >> well, wait, this is a 24-hour day job, seven days a week. i'm in new york tomorrow looking at the hospitals affected in hurricane sandy, and i feel like i need to do the ground work to investigate that for myself. gerri: you're doing work, but not all the people you work with in washington are. some are just taking time off before the holidays when this big issue is on the plate. nancy pelosi had to say about this. >> we should be here and came as a surprise, and i'm really surprised that the republicans would leave. we maim in tuesday, and we left wednesday at twelve o'clock noon. with all that needs to be done, avoiding the conversation, sounds like people don't want to be in town for some reason. gerri: does she have a right -- are the republicans trying to avoid the conversation? >> no, absolutely not. we had a hearing this morning in the joint economic committee on this issue
FOX Business
Dec 2, 2012 4:00am EST
-created recession hurt the world economy. the paper went on to school lawmakers here saying that the u.s. should act like a responsible power. oh, boy. of course, china's interest is purely self-interest here. the last thing he needs it needs is a slowdown in consumer spending. after all, where would the chinese a their economy be if it weren't for america? that's right. a lot more to come during this hour. what this tax fairness mean? i will break down th numbers. folks like warren buffett don't want to talk about this. and aaa and unusual warning about a blend of gasoline. the federal government wants you to start using the gas. but will it damage your gerri: look, i am no expert on media bias, but the media solving the fiscal cliff. the huffington post reporting that the offer to avert disaster sparks gop outrage. "the new york times", the front page story today that the tax code is less progressive than in 1980. back when ronald reagan was president. let's take a look at federal income tax in this country. these numbers according to the tax foundation. the top 1% pay 37.4%. the top 1% of earners
FOX Business
Dec 5, 2012 6:00pm EST
. it really helps the economy. gerri: or something surprising here. we have a comparison, brightwork state versus nonwhite work state. we just showed weight increases by higher then any nonwhite work state. how is that possible? >> what it does is a big open for business sign to attract businesses to the state. lawmakers in the state are putting workers and job creators about special interests. and they know that they won't have to -- that the politicians won't be putting anyone else ahead of the jobs. gerri: job growth shrinking in the united states. it really does involve michigan. it's what happened with detroit auto workers. their jobs shrinking. they're definitely on the decline. other workers in the south. and there is a clear case study of the power of the work states -- the right to work states. not for those who employ people come up before the workers. >> that is right. the auto industry -- the american auto industry is actually coming back. but it's coming back in the right to work states where we have the very stringent right to work state. all the auto workers are making more
FOX Business
Dec 6, 2012 7:00pm EST
this one, and that's good for the american economy. >> republicans believe the reason the president is going light on spending cuts while demanding the budget deal include another increase in the nation's debt ceiling is clear. >> this is not about getting a handle on deficits or debt for him. it's about spending even more than he has. >> white house aids reject the republican claims that holding the debt limit over the president's head is the only mechanism to get him to trim spending. >> you're just going to keep at the debt limit goes higher, you spend more money. you and congress, both. >> that's false. president signed into law a trillion dollars in discretionary cuts. the president has a specific proposal to achieve $600 billion in savings from entitlement programs like health care entitlement programs. >> jay compared republican pressure on the debt ceiling to a hostage taking. >> a profoundly bad idea that i think could not be more frightening for american businesses, and american workers. >> treasury secretary tim geithner may have frightened people yesterday saying the whi
FOX Business
Dec 7, 2012 9:00pm EST
our economy and jobs, the white hhuse is wasted another week. gerri: what do you say? we wasted another week. we seem to be getting nowhere, and now folks are saying the president is trying to entice us of the fiscal cliff. >> look, i think they're actually some pretty strong incentives for the president to take the country over the fiscal cliff. if you look at what the president's stance to gain if the country goes over the fiscal cliff, there are very clear and identifiable things. on the one hand the president could identify himself as a tax cutter. could say -- on january 1st the president in terms of the country and say, now in favor of cutting these taxes that have been raised because we did not solve this before the fiscal cliff. he can turn and say to my want to restore some of this funding that my secretary ofefen and joint iefs of staff told me i need to restore and can position hielf as sort of the potector of u.s. national security. so there are some clear centives to the president to lead the country over the fiscal cliff. do i think that's what he wants? probably n
FOX Business
Dec 4, 2012 5:00pm EST
. you're talking about something that would do tremendous damage to the domestic economy. everybody agrees with this. president obama as president at least twice made the argument, raising taxes including raising taxes just on the wealthy would hurt the economy. he is doing something he previously said would hurt the economy. melissa: that is absolutely true but please,,guys, show me that full screen another time. on the spending side of the ledger none of those cuts are big enough to make any kind of a difference, whether we're talking about going over the cliff or talking about even the gop plan. if you keep in mind we're spending $4 billion a day that we currently have a debt of $16.3 trillion. depending on whose estimates you look at we'll have a deficit 1.1, 1.2 or $1.4 trillion a year. >> yes. melissa: none of those things curb the spending we're doing. >> no, right. melissa: that is what i thought was shocking and distressing about crunching these numbers. >> you're absolutely right. the most important way to look at iscal cliff debate, the math is fine to go through it but
FOX Business
Dec 9, 2012 2:00am EST
prepare people for the needs of the 21st century economy . broken communities and families and schls are not doing that. >> i don't think the government ads are doing it either. >> taking ait for hitting the health care law. the name behinded lobster could have you paying upven more. @@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@ where's tommy? i thought he was with you. . jack! (playing twinkle, twinkle, little star.) tommy? go get him! don't stop! keep playing! here we go. here's the fun part! did you do this? great job! your latest headlines always at fox ns.com. >> a business hit for speaking your mind about obama care. warning that their earnings are take a hit because the bad press press they got. victorias job creators can't afford to stay quiet. >> it is it a frightening society. one where business owners can'tpeak their mind and say taxes do hit their bottom line and yes, they may not hire because of higher tax and health dare costs or put workers on part-time instead of fl-time. we want to know it is going on i doubt it is hurting their earnings. i don't think the back lash is that large.
FOX Business
Dec 6, 2012 11:00am EST
of popping off of the fha. if you look at where we stand right now, as an economy, we have a very modest recovery. it is most likely going to happen. connell: the significance of it is, in your mind, what? >> what needs to happen is we need to take note that we are subsidizing the fha again. while the fha is great for lower income borrowers, we are still allowing people to buy properties where they want after they post on the property, they are upside down on our property. that is where we need to be cautious. connell: we talk about it all the time, the housing numbers that are showing improvement. if people are only putting down, you know, the 3.5%, are we getting ourselves into a similar hole to the ones we are trying to dig ourseeves out of? >> unfortunately, we may have. the loans that the fha have increased in the past ten years, has increased tenfold. when you look at that type of fan increase in the increased exposure for the fha, there are years were barely fha loans were written. today it is a very big percentage of the market. we need to prophet fha up short term and then refor
FOX Business
Dec 7, 2012 9:20am EST
is the weakest part in the job market. but the economy's added some 3 1/2 million, 4 million jobs and that is a recovery. it's not as fast as the reagan recovery. it's faster than the push recovery and it's factored somewhere in there. >> i never thought i'd hear you say-- >> a starting point clearly was-- >> all right, i take your point. it's good stuff. i never thought i'd hear you say it's not as fast as the reagan recovery, but you just said it. >> i say that every time whenever you bring it up, that's one of the great recoveries in u.s. history. it helps when you can go straight back and doing what you were doing. stuart: if only we had done in 2009 what ronald reagan did in 1982, but i'm out of time. you know i'm out of time, now that. >> which is set the highest rate at 50%? >> no. >> that's what it was. stuart: it stimulates the private sector, not all government all the time. that's the story. aw austan, i'm sorry, i really am out of time. thank you, sir. more "varney & company" in a moment. >> a strong earthquake hit the coast of japan in the same region where the fukus
FOX Business
Dec 2, 2012 6:00pm EST
. people don't look happy. neil: even when we h a boom in the economy, i would b in a mall and i would not be happy. >> that we are talking about the other people. [laughter] neil: you can catch him on fox news. >> thank you. neil, you are always a start. neil: it's you, buddy. you are always trusted. thank you very much. i've never heard such a good explanation. that's what makes him a star. did mitt romney lose because he was the butt of jokes? and why the president got the last laugh. this is interesting stuff [ male announcer ] you are a business pro. governor of getting it done. you know how to dance... with a deadline. and you...rent from national. because only national lets you oose any car in the aisle... and go. you can even take a full-size or above, and still pay the mid-size price. this is awesome. [ male announcer ] yes, it is, business pro. yes, it is. go national. go like a pro. neil: is president obama still sitting here? governor romney does visiting here? all beuse mitt romney was in a serious order taken serisly? that he was the butt of more jokes. david brennan is o
FOX Business
Dec 6, 2012 4:00pm EST
not interfere with the economy the way it was beginning to. oil stepped back about one and three-quarters percent today closing at $86.38. liz: the ecb cutting at least the rate forecast of growth and so, nonetheless, that didn't help the picture, but the tech sector rallying today. as we mentioned, apple helping to push the rebounded after yesterday's steep drop. it hit a four-year low yesterday. let's look at iyw, apple makes up more than 22% of this etf which also holds tech heavyweights ibm and microsoft, three-quarters of a percent gain, and then the tech etf xlk also rose today. the fund's very large holding is, of course, apple. >>> we've got two ceos coming up that you are going to want to listen to. tom is the ceo of tmx group. it owns and operates the toronto stock exchange to our neighbors in the north, here in studio talking about the changing landscape for exchanges. the possibility of more acquisitions to come. david: and we're also going to be talking with the ceo and president of choice hotels, this is steve joyce. steve is going to be talking about their expansio
FOX Business
Dec 6, 2012 1:00pm EST
, that is a really crummy solution and how the market i and the economy reactso that? >> i agree with you, and only be a short-term solution before going off the cliff. melissa: does not achieve anything real. except avoiding going off the cliff. i made it clear that was the sole purpose of it, say okay, show us what you're really going to do. again, have attacked both sides of the budget. right now they are not even have having meaningful discussions on that. i'm suffering from fiscal cliff fatigue i think it will get worse because the end of the year is approaching. melissa: thank you for coming on. lori: way to bring it home. spending cuts, looking at even more spending or the possibility of that. housing secretary donovan branding how he hopes to avoid a government bailout for the fha. it seems like more dollar signs out there to me, peter. >> that is right. the housing secretary cannot rule it out. washington is certainly closer to one after the latest audit of the fha fund has a capital reserve shortfall of $16.3 billion. the administration says it is too soon to say whether the fha will need
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